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BILLING CODE: 4810-70-P
DEPARTMENT OF THE TREASURY
Community Development Financial Institutions Fund
Funding Opportunities: Bank Enterprise Award (BEA) Program; FY 2021 Funding
Round
Funding Opportunity Title: Notice of Funds Availability (NOFA) inviting Applications
for the Fiscal Year (FY) 2021 Funding Round of the Bank Enterprise Award Program
(BEA Program).
Announcement Type: Announcement of funding opportunity.
Funding Opportunity Number: CDFI-2021-BEA
Catalog of Federal Domestic Assistance (CFDA) Number: 21.021
Dates:
Table 1. FY 2021 BEA Program Funding Round - Key Dates for ApplicantsDescription Deadline Time
(Eastern Time - ET)
Contact Information
Grant Application Package/ SF-424 Mandatory (Application forFederal Assistance)
Submission Method: Electronically via Grants.gov
November 12, 2021
11:59 p.m. ET
Contact Grants.gov at 800-518-4726 or [email protected]
Last day to register a user and organization in AMIS.
December 10, 2021
5:00 p.m. ET CDFI Fund IT Helpdesk: 202-653-0422 or IT Award Management Information System (AMIS) Service Request1
Last day to enter, edit or delete BEA transactions, and verify addresses/ census tracts in AMIS.
December 10, 2021
5:00 p.m. ET CDFI Fund IT Helpdesk: 202-653-0422 or IT AMIS Service Request2
Last day to contact BEA Program Staff re: BEA Program Application materials
December 10, 2021
5:00 p.m. ET CDFI Fund BEA Helpdesk: 202-653-0421 or BEA AMIS Service Request3
This document is scheduled to be published in theFederal Register on 10/14/2021 and available online atfederalregister.gov/d/2021-22450, and on govinfo.gov
Last day to contact Certification, Compliance Monitoring and Evaluation (CCME) staff
December 10, 2021
5:00 p.m. ET CCME Helpdesk: 202-653-0423 or Compliance and Reporting AMIS Service Request4
Last day to contact IT Help Desk re. AMIS support and submission of the FY 2021 BEA Program Electronic Application in AMIS
December 14, 2021
5:00 p.m. ET CDFI Fund IT Helpdesk: 202-653-0421 or IT AMIS Service Request5
FY 2021 BEA Program Electronic Application
Submission Method: Electronically via AMIS
December 14, 2021
5:00 pm ET CDFI Fund IT Helpdesk: 202-653-0422 or IT AMIS Service Request6
1For Information Technology support, the preferred method of contact is to submit a Service Request (SR) within AMIS. For the SR, select “Technical Issues” from the Program drop down menu.2Ibid.3For questions regarding completion of the BEA Application materials, the preferred electronic method of contact with the BEA Program Office is to submit a Service Request (SR) within AMIS. For the SR, select “BEA Program” from the Program drop down menu of the Service Request.4For Compliance and Reporting related questions, the preferred electronic method of contact is to submit a Service Request (SR) within AMIS. For the SR, select “Compliance and Reporting” from the Program drop down menu of the Service Request.5For Information Technology support, the preferred method of contact is to submit a Service Request (SR) within AMIS. For the SR, select “Technical Issues” from the Program drop down menu of the Service Request.6Ibid.
Executive Summary: This NOFA is issued in connection with the fiscal year (FY) 2021
funding round of the Bank Enterprise Award Program (BEA Program). The BEA
Program is administered by the U.S. Department of the Treasury’s Community
Development Financial Institutions Fund (CDFI Fund). Through the BEA Program, the
CDFI Fund awards formula-based grants to depository institutions that are insured by the
Federal Deposit Insurance Corporation (FDIC) for increasing their levels of loans,
investments, Service Activities, and technical assistance to residents and businesses in the
most economically Distressed Communities, and financial assistance and technical
assistance to certified Community Development Financial Institutions (CDFIs) through
equity investments, equity-like loans, grants, stock purchases, loans, deposits, and other
forms of assistance, during a specified period.
I. PROGRAM DESCRIPTION:
A. History: The CDFI Fund was established by the Riegle Community Development and
Regulatory Improvement Act of 1994 to promote economic revitalization and community
development through investment in and assistance to CDFIs. Since its creation in 1994,
the CDFI Fund has provided more than $3.9 billion through a variety of monetary awards
programs to CDFIs, community development organizations, and financial institutions. In
addition, the CDFI Fund has allocated $61.0 billion in tax credit allocation authority to
Community Development Entities through the New Markets Tax Credit Program (NMTC
Program), and has guaranteed more than $1.7 billion in bonds through the CDFI Bond
Guarantee Program.
The BEA Program complements the community development activities of banks and
thrifts (collectively referred to as banks for purposes of this NOFA), by providing
financial incentives to expand investments in CDFIs and to increase lending, investment,
and Service Activities within Distressed Communities. Providing monetary awards to
banks for increasing their community development activities leverages the CDFI Fund's
dollars and puts more capital to work in Distressed Communities throughout the nation.
B. Authorizing Statutes and Regulations: The BEA Program was authorized by the Bank
Enterprise Award Act of 1991, as amended. The regulations governing the BEA Program
can be found at 12 CFR part 1806 (the Interim Rule). The Interim Rule provides the
evaluation criteria and other requirements of the BEA Program. Detailed BEA Program
requirements are also found in the application materials associated with this NOFA (the
Application). The CDFI Fund encourages interested parties and Applicants to review the
authorizing statute, Interim Rule, this NOFA, the Application, and the Uniform
Administrative Requirements, Cost Principles, and Audit Requirements for Federal
Awards (Uniform Requirements) for a complete understanding of the BEA Program.
Capitalized terms in this NOFA are defined in the authorizing statute, the Interim Rule,
this NOFA, the Application, or the Uniform Requirements. Details regarding Application
content requirements are found in the Application and related materials. Application
materials can be found on Grants.gov and the CDFI Fund’s website at
www.cdfifund.gov/bea.
C. Uniform Administrative Requirements, Cost Principles, and Audit Requirements for
Federal Awards (2 CFR part 200): The Uniform Administrative Requirements codify
financial, administrative, procurement, and program management standards that Federal
award-making agencies and Award Recipients must follow. When evaluating award
applications, awarding agencies must evaluate the risks to the program posed by each
Applicant, and each Applicant’s merits and eligibility. These requirements are designed
to ensure that Applicants for Federal assistance receive a fair and consistent review prior
to an award decision. This review will assess items such as the Applicant’s financial
stability, quality of management systems, history of performance, and audit findings. In
addition, the Uniform Requirements include guidance on audit requirements and other
award requirements with which Award Recipients must comply.
D. Priorities: Through the BEA Program, the CDFI Fund specifies the following
priorities:
1. Estimated Award Amounts: The award percentage used to derive the estimated award
amount for Applicants that are CDFIs is three times greater than the award percentage
used to derive the estimated award amount for Applicants that are not CDFIs;
2. Priority Factors: Priority Factors will be assigned based on an Applicant’s asset size,
as described in Section V.A.14 of this NOFA (Application Review Information: Priority
Factors); and
3. Priority of Awards: The CDFI Fund will rank Applicants in each category of Qualified
Activity according to the priorities described in Section V.A.16. of this NOFA
(Application Review Information: Award Percentages, Award Amounts, Application
Review Process, Selection Process, Programmatic Financial Risk, and Application
Rejection), and specifically parts V.B.2: Selection Process, V.B.3: Programmatic and
Financial Risk, and V.B.4: Persistent Poverty Counties.
E. Baseline Period and Assessment Period Dates: A BEA Program Award is based on an
Applicant’s increase in Qualified Activities from the Baseline Period to the Assessment
Period, as reported on an individual transaction basis in the Application. For the FY 2021
funding round, the Baseline Period is calendar year 2019 (January 1, 2019 through
December 31, 2019), and the Assessment Period is calendar year 2020 (January 1, 2020
through December 31, 2020).
F. Funding Limitations: The CDFI Fund reserves the right to fund, in whole or in part,
any, all, or none of the Applications submitted in response to this NOFA. The CDFI Fund
also reserves the right to reallocate funds from the amount that is available through this
NOFA to other CDFI Fund programs, or to reallocate remaining funds to a future BEA
Program funding round, particularly if the CDFI Fund determines that the number of
awards made through this NOFA is fewer than projected.
G. Persistent Poverty Counties: Pursuant to the Consolidated Appropriations Act, 2021
(Public Law Number 116-260), Congress mandated that at least ten percent of the CDFI
Fund’s appropriations be directed to counties that meet the criteria for ‘‘Persistent
Poverty’’ designation. Persistent Poverty Counties (PPCs) are defined as any county,
including county equivalent areas in Puerto Rico, that has had 20 percent or more of its
population living in poverty over the past 30 years, as measured by the 1990 and 2000
decennial censuses, and the 2011-2015 5-year data series available from the American
Community Survey of the Census Bureau or any other territory or possession of the
United States that has had 20 percent or more of its population living in poverty over the
past 30 years, as measured by the 1990, 2000 and 2010 Island Areas Decennial Censuses,
or equivalent data, of the Bureau of the Census and published by the CDFI Fund at:
https://www.cdfifund.gov/Documents/PPC%20updated%20Oct.2017.xlsx. The tabular
BEA Program Eligibility Data, which is located on the CDFI Fund’s website, indicates
whether a census tract also meets “Persistent Poverty County” (PPC) criteria. The tabular
BEA Program Eligibility Data can be located by clicking on “Research and Data,”
scrolling to “Program Eligibility Guidance” and selecting “BEA Program Updated 2011-
2015 ACS Data,” or by going to the following hyperlink:
https://www.cdfifund.gov/Documents/BEA%20ACS_2015_V12.xlsx. Applicants that
apply under this NOFA will be required to indicate the minimum and maximum
percentage of the BEA Program Award that the Applicant will commit to investing in
PPCs.
II. FEDERAL AWARD INFORMATION
A. Funding Availability: The CDFI Fund expects to award up to $26 million for the FY
2021 BEA Program Award round under this NOFA. The CDFI Fund reserves the right to
award in excess of said funds under this NOFA, provided that the appropriated funds are
available. The CDFI Fund reserves the right to impose a minimum or maximum award
amount; however, under no circumstances will an award be higher than $1 million for
any Award Recipient.
B. Types of Awards: BEA Program Awards are made in the form of grants.
C. Anticipated Start Date and Period of Performance: The CDFI Fund anticipates the
period of performance for the FY 2021 funding round will begin in the fall of calendar
year 2021. Specifically, the period of performance begins on the Federal Award Date and
will conclude at least one (1) full year after the Federal Award Date as further specified
in the BEA Program Award Agreement (Award Agreement), during which the Award
Recipient must meet the performance goals set forth in the Award Agreement.
D. Eligible Activities: Eligible activities for BEA Program Applicants are referred to as
Qualified Activities and are defined in the Interim Rule to include CDFI Related
Activities, Distressed Community Financing Activities, and Service Activities (12 CFR
1806.103).
CDFI Related Activities (12 CFR 1806.103) means CDFI Equity and CDFI Support
Activities. CDFI Equity consists of Equity Investments, Equity-Like Loans, and Grants.
CDFI Support Activities includes Loans, Deposits and Technical Assistance.
Distressed Community Financing Activities (12 CFR 1806.103) means Consumer Loans
and Commercial Loans and Investments. Consumer Loans include Affordable Housing
Loans; Education Loans; Home Improvement Loans; and Small Dollar Consumer Loans.
Commercial Loans and Investments includes Affordable Housing Development Loans
and related Project Investments; Commercial Real Estate Loans and related Project
Investments; and Small Business Loans and related Project Investments. Service
Activities (12 CFR 1806.103) include Deposit Liabilities, Financial Services, Community
Services, Targeted Financial Services, and Targeted Retail Savings/Investment Products.
When calculating BEA Program Award amounts, the CDFI Fund will only consider the
amount of a Qualified Activity that has been fully disbursed or, in the case of a partially
disbursed Qualified Activity, will only consider the amount that an Applicant reasonably
expects to disburse for a Qualified Activity within 12 months from the end of the
Assessment Period. Subject to the requirements outlined in Section VI. of this NOFA, in
the case of Commercial Real Estate Loans and related Project Investments, the total
principal amount of the transaction must be $10 million or less to be considered a
Qualified Activity. Notwithstanding the foregoing, the CDFI Fund, in its sole discretion,
may consider transactions with a total principal value of over $10 million, subject to
review.
An activity funded with prior BEA Program Award dollars, or funded to satisfy
requirements of an Award Agreement from a prior BEA Program award or an agreement
under any CDFI Fund program, shall not constitute a Qualified Activity for the purposes
of calculating or receiving an award.
E. Distressed Community: A Distressed Community must meet certain minimum
geographic area and eligibility requirements, which are defined in the Interim Rule at 12
CFR 1806.103 and more fully described in 12 CFR 1806.401. Applicants should use the
CDFI Fund’s Information Mapping System (CIMS Mapping Tool) to determine whether
a Baseline Period activity or Assessment Period activity is located in a qualified
Distressed Community. The CIMS Mapping Tool can be accessed through AMIS or the
CDFI Fund’s website at https://www.cdfifund.gov/Pages/mapping-system.aspx. The
CIMS Mapping Tool contains a step-by-step training manual on how to use the tool. In
addition, further instructions to determine whether an activity is located in a qualified
BEA Distressed Community can be located at: https://www.cdfifund.gov/programs-
training/Programs/bank_enterprise_award/Pages/apply-step.aspx#, Step1, when selecting
the BEA Program Application CIMS3 Instructions document in the “Application
Materials” section of the BEA webpage on the CDFI Fund’s website. If you have any
questions or problems with accessing the CIMS Mapping Tool, please contact the CDFI
Fund IT Help Desk by telephone at (202) 653-0300, or by IT AMIS Service Request.
Please note that a Distressed Community as defined by the BEA Program is not the same
as an Investment Area as defined by the CDFI Program, a Low-Income Community as
defined by the NMTC Program, or an Area of Economic Distress as defined by the
Capital Magnet Fund Program.
1. Designation of Distressed Community by a CDFI Partner: CDFI Partners that receive
CDFI Support Activities in the form of loans, technical assistance or deposits from an
Applicant must be integrally involved in a Distressed Community. Applicants must
provide evidence that each CDFI Partner that is the recipient of CDFI Support Activities
is integrally involved in a Distressed Community, as noted in the Application. CDFI
Partners that receive Equity Investments, Equity-Like Loans or grants are not required to
demonstrate Integral Involvement. Additional information on Integral Involvement can
be found in Section V. of this NOFA.
2. Distressed Community Determination by a BEA Applicant: Applicants applying for a
BEA Program Award for performing Distressed Community Financing Activities or
Service Activities must verify that addresses of both Baseline Period and Assessment
Period activities are in Distressed Communities when completing their Application.
A BEA Applicant shall determine an area is a Distressed Community by:
a. selecting a census tract where the Qualified Activity occurred that meets the minimum
area and eligibility requirements; or
b. selecting the census tract where the Qualified Activity occurred, plus one or more
census tracts directly contiguous to where the Qualified Activity occurred that when
considered in the aggregate, meet the minimum area and eligibility requirements set forth
in this section.
F. Award Agreement: Each Award Recipient under this NOFA must electronically sign
an Award Agreement via AMIS prior to payment of the award proceeds by the CDFI
Fund. The Award Agreement contains the terms and conditions of the award. For further
information, see Section VI. of this NOFA.
G. Use of Award: It is the policy of the CDFI Fund that BEA Program Awards may not
be used by Award Recipients to recover overhead or Indirect Costs. The Award Recipient
may use up to fifteen percent (15%) of the total BEA Program award amount on
Qualified Activities as Direct Administrative Expenses. “Direct Administrative
Expenses” shall mean Direct Costs, as described in section 2 CFR 200.413 of the
Uniform Requirements, which are incurred by the Award Recipient to carry out the
Qualified Activities. Such costs must be able to be specifically identified with the
Qualified Activities and not also recovered as Indirect Costs. “Indirect Costs” means
costs or expenses defined in accordance with section 2 CFR 200.1 of the Uniform
Requirements. In addition, the Award Recipient must comply, as applicable, with the Buy
American Act of 1933, 41 U.S.C. 8301-8303 and 2 CFR 200.216 of the Uniform
Requirements, with respect to any Direct Costs.
III. ELIGIBILITY INFORMATION:
A. Eligible Applicants: For the purposes of this NOFA, the following table sets forth the
eligibility criteria to receive a BEA Program award from the CDFI Fund.
Table 2. Eligibility Requirements for ApplicantsCriteria DescriptionEligible Applicants The depository institution holding company of
an Insured Depository Institution may not apply on behalf of an Insured Depository Institution. Applications received from depository institution holding companies will be disqualified.
Eligible Applicants for the BEA Program must be Insured Depository Institutions, as defined in the Interim Rule.
For the FY 2021 funding round, an Applicant must have been FDIC-insured as of the first day of the Baseline Period, January 1, 2019, and maintain its FDIC-insured status at the time of Application to be eligible for consideration for a BEA Program Award under this NOFA.
The depository institution holding company of an Insured Depository Institution may not apply on behalf of an Insured Depository Institution. Applications received from depository institution holding companies will be disqualified.
CDFI Applicant For the FY 2021 funding round, an eligible
certified-CDFI Applicant is an Insured Depository Institution that was certified as a CDFI as of December 31, 2020 and maintains its status as a certified CDFI at the time BEA Program Awards are announced under this NOFA. No CDFI Applicant may receive a FY 2021 BEA Program Award if it has: (1) an application pending for assistance under the FY 2021 round of the CDFI Program; (2) been
included on the list of Award Recipients under the CDFI Program award announcement within the 12-month period prior to the Federal Award Date of the FY 2021 BEA Program Award Agreement; (3) been awarded assistance from the CDFI Fund under the CDFI Program within the 12-month period prior to the Federal Award Date of the FY 2021 BEA Program Award Agreement; or (4) ever received assistance under the CDFI Program for the same activities for which it is seeking a FY 2021 BEA Program Award. Please note that Applicants may apply for both a CDFI Program award and a BEA Program Award in FY 2021; however, receiving a FY 2021 CDFI Program award removes an Applicant from eligibility for a FY 2021 BEA Program Award.
Debarment/ Do Not Pay Verification
The CDFI Fund will conduct a debarment check and will not consider an Application submitted by an Applicant (or Affiliate of an Applicant) if the Applicant is delinquent on any Federal debt.
The Do Not Pay Business Center was developed to support Federal agencies in their efforts to reduce the number of improper payments made through programs funded by the Federal government. The Do Not Pay Business Center provides delinquency information to the CDFI Fund to assist with the debarment check.
B. Prior Award Recipients: The previous success of an Applicant in any of the CDFI
Fund’s programs will not be considered under this NOFA. Prior BEA Program Award
Recipients and prior Award Recipients of other CDFI Fund programs are eligible to
apply under this NOFA, except as noted in the following table:
Table 3. Eligibility Requirements for Applicants which are Prior Award RecipientsCriteria DescriptionPending resolution of noncompliance
If an Applicant (or Affiliate of an Applicant) that is a prior Award Recipient or Allocatee under any CDFI Fund program: (i) has demonstrated it has been in noncompliance with a previous assistance agreement, award agreement, allocation agreement, bond loan agreement, or agreement to guarantee and (ii) the CDFI Fund has yet to make a final
C. Contact the CDFI Fund: Accordingly, Applicants that are prior Award Recipients
and/or Allocatees under any CDFI Fund program are advised to comply with
requirements specified in an assistance agreement, award agreement, allocation
agreement, bond loan agreement, or agreement to guarantee. All outstanding reports and
compliance questions should be directed to the Certification, Compliance Monitoring and
Evaluation helpdesk by submitting a BEA Compliance and Reporting AMIS Service
Request or by telephone at (202) 653-0423. The CDFI Fund will respond to Applicants’
reporting, compliance, or disbursement questions between the hours of 9:00 a.m. and
5:00 p.m. ET, starting on the date of the publication of this NOFA. The CDFI Fund will
not respond to Applicants’ reporting, compliance, or disbursement telephone calls or
electronic inquiries received after 5:00 p.m. ET on December 10, 2021, until after the
Application deadline. The CDFI Fund will respond to technical issues related to AMIS
determination as to whether the entity is in noncompliance with or default of its previous agreement, the CDFI Fund will consider the Applicant’s Application under this NOFA pending full resolution, in the sole determination of the CDFI Fund, of the noncompliance.
Default or Noncompliance status
The CDFI Fund will not consider an Application submitted by an Applicant (or Affiliate of such Applicant) that has a previously executed assistance agreement, award agreement, bond loan agreement, or agreement to guarantee or allocation agreement if, as of the date of the Application, (i) the CDFI Fund has made a determination that such entity is noncompliant with and or in default of such previously executed agreement, and (ii) the CDFI Fund has provided written notification that such entity is ineligible to apply for or receive any future CDFI Fund awards or allocations. Such entities will be ineligible to submit an Application for such time period as specified by the CDFI Fund in writing.
Accounts through 5:00 p.m. ET on December 14, 2021, via an IT AMIS Service Request,
email at [email protected], or by telephone at (202) 653-0422.
D. Cost sharing or matching fund requirements: Not applicable.
IV. APPLICATION AND SUBMISSION INFORMATION
A. Address to Request an Application Package: Application materials can be found on
Grants.gov and the CDFI Fund’s website at www.cdfifund.gov/bea. Applicants may
request a paper version of any Application material by contacting the CDFI Fund Help
Desk at [email protected].
B. Content and Form of Application Submission: All Application materials must be
prepared using the English language and calculations must be made in U.S. dollars.
Applicants must submit all materials described in and required by the Application by the
applicable deadlines. Detailed Application content requirements including instructions
related to the submission of the Grant Application Package in Grants.gov and the FY
2021 BEA Program Application in AMIS, the CDFI Fund’s web-based portal, are
provided in detail in the Application Instructions. Once an Application is submitted, the
Applicant will not be allowed to change any element of the Application. The CDFI Fund
reserves the right to request and review other pertinent or public information that has not
been specifically requested in this NOFA or the Application.
C. Application Submission: The CDFI Fund has a two-step submission process for BEA
Applications that requires the submission of required application information on two
separate deadlines and in two separate and distinct systems, Grants.gov and the CDFI
Fund’s AMIS. The first step is the submission of the Grant Application, which consists
solely of the Office of Management and Budget Standard Form - 424 Mandatory (SF-424
Mandatory) Application for Federal Assistance, in Grants.gov. The second step is to
submit an FY 2021 BEA Program Application in AMIS.
D. Grants.gov: Applicants must be registered with Grants.gov to submit the Grants
Application Package. The Grants Application Package consists of one item, the SF-424
Mandatory. In order to register with Grants.gov, Applicants must have a DUNS number
and have an active registration with SAM.gov. The CDFI Fund strongly encourages
Applicants to start the Grants.gov registration process as soon as possible (refer to the
following link: https://www.grants.gov/web/grants/register.html) as it may take several
weeks to complete. Applicants that have previously registered with Grants.gov must
verify that their registration is current and active. Applicants should contact Grants.gov
directly with questions related to the registration or submission process as the CDFI Fund
does not administer or maintain this system.
Applicants are required to submit a Grant Application Package in Grants.gov and have it
validated by the Grants.gov submission deadline of November 12, 2021. The Grant
Application Package is validated by Grants.gov after the Applicant’s initial submission
and it may take Grants.gov up to 48 hours to complete the validation process. Therefore,
the CDFI Fund encourages Applicants to submit the Grant Application Package as early
as possible. This will help to ensure that the Grant Application Package is validated
before the Grants.gov submission deadline and provide time for Applicants to contact
Grants.gov directly to resolve any submission issues since the CDFI Fund does not
administer or maintain that system. For more information about Grants.gov, please visit
https://www.grants.gov and see Table 8 for Grants.gov contact information.
The CDFI Fund electronically retrieves validated Grant Application Packages from
Grants.gov and therefore only considers the submission of the Grant Application Package
to be successful when it has been validated by Grants.gov before the submission
deadline. It is the Applicant’s sole responsibility to ensure that its Grant Application
Package is submitted and validated by Grants.gov before the submission deadline.
Applicants that do not successfully submit their Grant Application Package and have it
validated by the Grants.gov submission deadline will not be able to submit a FY 2021
BEA Program Application in AMIS. The CDFI Fund will electronically retrieve
validated Grant Application Packages from Grants.gov on a daily basis. Applicants are
advised that it will take up to 48 hours from when the CDFI Fund retrieves the validated
Grant Application Package for it to be available in AMIS to associate with a FY 2021
BEA Program Application.
Once the CDFI Fund has retrieved the validated Grant Application Package from
Grants.gov and made it available in AMIS, Applicants must associate it with their
Application. Applicants can begin working on their FY 2021 BEA Program Application
in AMIS at any time, however, they will not be able to submit the application until the
validated Grant Application Package is associated, by the Applicant, with the application.
Applicants are advised that the CDFI Fund will not notify them when the validated Grant
Application Package has been retrieved from Grants.gov or when it is available in AMIS.
It is the Applicant’s responsibility to ensure that the validated SF-424 Mandatory is
associated with its FY 2021 BEA Application in AMIS. Applicants will not be able to
submit their FY 2021 BEA Program Application without completing this step.
Applicants are advised that the lookup function in the FY 2021 BEA Application in
AMIS, uses the DUNS number reported on the validated Grant Application Package to
match it with the correct AMIS Organization account. Therefore, Applicants must make
sure the DUNS number included in the Grant Application Package submitted in
Grants.gov matches the DUNS number in their AMIS Organization account. If, for
example, the DUNS number does not match because the Applicant inadvertently used the
DUNS number of their Bank Holding Company on the Grant Application Package in
Grants.gov and is attempting to associate with AMIS Organization account of their
FDIC-Insured Bank subsidiary, the lookup function will not return any results and the
Applicant will not be able to submit the FY 2021 BEA Application.
Applicants are also highly encouraged to provide EIN, Authorized Representative and/or
Contact Person information on the Grant Application Package that matches the
information included in AMIS Organization account.
E. Dun & Bradstreet Universal Numbering System (DUNS): Pursuant to the Uniform
Administrative Requirements, each Applicant must provide, as part of its Application
submission, a Dun and Bradstreet Universal Numbering System (DUNS) number.
Applicants without a DUNS number will not be able to submit a Grant Application
Package in Grants.gov.
Applicants should allow sufficient time for Dun & Bradstreet to respond to inquiries
and/or requests for DUNS numbers.
F. System for Award Management (SAM): An active SAM account is required to submit
the required Grant Application Package in Grants.gov. Any entity applying for Federal
grants or other forms of Federal financial assistance through Grants.gov must be
registered in SAM in order to submit its Grant Application Package in Grants.gov or FY
2021 BEA Program Application in AMIS. When accessing SAM.gov, users will be asked
to create a login.gov user account (if they don’t already have one). Going forward, users
will use their login.gov username and password every time when logging in to SAM.gov.
Applicants must have established an active SAM.gov account no later than 30 days after
the release of this NOFA. The SAM registration process can take three weeks or longer to
complete so Applicants are strongly encouraged to begin the registration process upon
release of this NOFA in order to avoid potential application submission problems.
Applicants that have previously completed the SAM registration process must verify that
their SAM accounts are current and active. Applicants are advised to complete the
SAM.gov process at least 48 hours in advance of the Grants Application Package
deadline. Applicants are required to maintain a current and active SAM account at all
times during which it has an active Federal award or an Application under consideration
for an award by a Federal awarding agency.
An original, signed notarized letter identifying the authorized Entity Administrator for the
entity associated with the DUNS number is required by SAM and must be mailed to the
Federal Service Desk. This requirement is applicable to new entities registering in SAM,
as well as existing entities with registrations being updated or renewed in SAM.
Additional information on the notarized letter process can be located at:
https://www.gsa.gov/about-us/organization/federal-acquisition-service/office-of-systems-
management/integrated-award-environment-iae/sam-update-updated-july-11-2018.
The CDFI Fund will not consider any Applicant that fails to properly register or activate
its SAM’s account and, as a result, is unable to submit its Grant Application Package in
Grants.gov, or FY 2021 BEA Program Application in AMIS by the respective deadlines.
Applicants must contact SAM directly with questions related to SAM registration or
account changes as the CDFI Fund does not administer or maintain this system. For more
information about SAM, please visit https://www.sam.gov or call 866-606-8220.
G. AMIS: All Applicants must complete an FY 2021 BEA Program Application in AMIS,
the CDFI Fund’s web-based portal. All Applicants must register User and Organization
accounts in AMIS by December 10, 2021. In addition, all BEA transactions must be
finalized in AMIS by December 10, 2021; this includes address/ census tract verification.
No transactions can be added, edited, or deleted after this deadline. Failure to register
and complete a FY 2021 BEA Program Application in AMIS in accordance with the
deadlines noted in Table 1: FY 2021 BEA Program Funding Round – Key Dates for
Applicants will result in the CDFI Fund being unable to accept the Application. As AMIS
is the CDFI Fund’s primary means of communication with Applicants and Award
Recipients, institutions must make sure that they update their contact information in their
AMIS accounts. In addition, the Applicant should ensure that the institution information
(name, EIN, DUNS number, Authorized Representative, contact information, etc.) on the
Grant Application Package submitted as part of the Grant Application Package in
Grants.gov matches the information in AMIS. EINs and DUNS numbers in the
Applicant’s SAM account must match those listed in AMIS. For more information on
AMIS, please see the information available through the AMIS Home page at
https://amis.cdfifund.gov. Qualified Activity documentation and other attachments as
specified in the applicable BEA Program Application must also be submitted
electronically via AMIS. Detailed instructions regarding submission of Qualified Activity
documentation is provided in the Application Instructions and AMIS Training Manual for
the BEA Program Application. Applicants will not be allowed to submit missing
Qualified Activity documentation after the BEA Transactions deadline and any Qualified
Activity missing the required documentation will be disqualified. Qualified Activity
documentation delivered by hard copy to the CDFI Fund’s Washington, DC office
address will be rejected, unless the Applicant previously requested a paper version of the
Application as described in Section IV.A.
H. Submission Dates and Times: The following table provides the critical deadlines for
the FY 2021 BEA Funding Round. Applications and any other required documents or
attachments received after the applicable deadline will be rejected. The document
submission deadlines stated in this NOFA and the Application are strictly enforced. The
CDFI Fund will not grant exceptions or waivers for late submissions except where the
submission delay was a direct result of a Federal government administrative or
technological error.
Table 4. Critical Deadlines for FY 2021 BEA Funding Round
Description Deadline Time (Eastern Time)
Grant Application Package/ SF-424 Mandatory
Submission Method:
November 12, 2021 11:59 p.m. ET
Table 4. Critical Deadlines for FY 2021 BEA Funding Round
Electronically via Grants.gov
FY 2021 BEA Program Application
Submission Method: Electronically via AMIS
December 14, 2021 5:00 pm ET
1. Confirmation of Application Submission: Applicants may verify that their Grant
Application Package was successfully submitted and validated in Grants.gov and that
their FY 2021 BEA Program Application was successfully submitted in AMIS.
Applicants should note that the Grant Application Package consists solely of the SF-424
Mandatory and has a different deadline than the FY 2021 BEA Program Application.
These deadlines are provided above in Table 4: FY 2021 BEA Program Funding Round
Critical Deadlines for Applicants. If the Grant Application Package is not successfully
submitted and subsequently validated by Grants.gov by the deadline, the CDFI Fund will
not review the FY 2021 BEA Program Application or any of the application related
material submitted in AMIS and the Application will be deemed ineligible.
a. Grants.gov Submission Information: In order to determine whether the Grant
Application Package was submitted properly, each Applicant should: (1) receive two
separate e-mails from Grants.gov, and (2) perform an independent step in Grants.gov to
determine whether the Grant Application was validated. Each Applicant will receive the
first e-mail from Grants.gov immediately after the Grant Application Package is
submitted confirming that the submission has entered the Grants.gov system. This e-mail
will contain a tracking number. Within 48 hours, the Applicant will receive a second e-
mail which will indicate if the submitted Grant Application Package was successfully
validated or rejected with errors. However, Applicants should not rely on the second e-
mail notification from Grants.gov to confirm that the Grant Application Package was
validated. Instead, Applicants should then perform an independent step in Grants.gov to
determine if the Grant Application Package status shows as “Validated” by clicking on
the “Applicants” menu, followed by clicking “Track my Application,” and then entering
the tracking number provided in the first e-mail. The Grant Application Package cannot
be retrieved by the CDFI Fund until it has been validated by Grants.gov.
b. AMIS Submission Information: AMIS is the web-based portal where Applicants will
directly enter their application information and add supporting documentation, when
applicable. The CDFI Fund strongly encourages the Applicant to allow sufficient time to
confirm the Application content, review the material submitted, and remedy any issues
prior to the BEA Transactions deadline. Only the Authorized Representative or an
Application Point of Contact can submit the FY 2021 BEA Program Application in
AMIS.
Applicants will not receive an e-mail confirming that their FY 2021 BEA Program
Application was successfully submitted in AMIS. Instead, Applicants should check their
AMIS account to ensure that the status of the FY 2021 BEA Program Application shows
“Under Review.” Step-by-step instructions for submitting an FY 2021 BEA Program
Application in AMIS are provided in the Application Instructions, Supplemental
Guidance, and AMIS Training Manual for the BEA Program Electronic Application.
2. Multiple Application Submissions: If an Applicant submits multiple versions of its
Grant Application Package in Grants.gov, the Applicant can only associate one with its
FY 2021 BEA Program Application in AMIS.
Applicants can only submit one FY 2021 BEA Program Application in AMIS. Upon
submission, the Application will be locked and cannot be resubmitted, edited, or
modified in any way. The CDFI Fund will not unlock a submitted Application or allow
multiple Application submissions.
3. Late Submission: The CDFI Fund will not accept an SF-424 Mandatory in Grants.gov
or an FY 2021 BEA Program Application in AMIS if it is not signed by an Authorized
Representative or submitted after the respective deadlines. In either case, the CDFI Fund
will not review any material submitted, and the Application will be deemed ineligible,
except where the submission delay was a direct result of a Federal government
administrative or technological error. This exception includes any errors associated with
Grants.gov, SAM.gov, AMIS or any other applicable government system. Please note
that this exception does not apply to errors arising from obtaining a DUNS number from
Dun & Bradstreet, which is not a government entity. An Applicant unable to make timely
submission of its Application due to any errors in the process of obtaining a DUNS
number will not be allowed to submit its Application after the Application deadline has
passed. In such case, the Applicant must submit their request for acceptance of a late
Application submission to the BEA Program Office via an AMIS Service Request with
documentation that clearly demonstrates the error by no later than two business days after
the applicable Application deadline for Grants.gov or AMIS. The CDFI Fund will not
respond to a request for acceptance of late Application submissions after that time period.
The AMIS Service Request must be directed to the BEA Program with a subject line of
“FY 2021 BEA Late Application Submission Request.”
I. Funding Restrictions: BEA Program Awards are limited by the following:
1. The Award Recipient shall use BEA Program Award funds only for the eligible
activities described in Section II. D. of this NOFA and the Authorized BEA Program
Activities described in its Award Agreement.
2. The Award Recipient may not distribute BEA Program Award funds to an Affiliate,
Subsidiary, or any other entity, without the CDFI Fund's prior written approval.
3. BEA Program Award funds shall only be disbursed to the Award Recipient.
4. The CDFI Fund, in its sole discretion, may disburse BEA Program Award funds in
amounts, or under terms and conditions, which are different from those requested by an
Applicant.
J. Other Submission Requirements: None.
V. APPLICATION REVIEW INFORMATION
A. Criteria: If the Applicant submitted a complete and eligible Application, the CDFI
Fund will conduct a substantive review in accordance with the criteria and procedures
described in the Regulations, this NOFA, the Application guidance, and the Uniform
Requirements. The CDFI Fund reserves the right to contact the Applicant by telephone,
e-mail, or mail for the sole purpose of clarifying or confirming Application information.
If contacted, the Applicant must respond within the time period communicated by the
CDFI Fund or run the risk that its Application will be rejected.
The CDFI Fund will not collect or accept any Personally Identifiable Information (PII) in
AMIS or in any of the application submission materials. PII is information, which if lost,
compromised, or disclosed without authorization, could result in substantial harm,
embarrassment, inconvenience, or unfairness to an individual. Although Applicants are
required to enter addresses of individual borrowers/ residents of Distressed Communities
in AMIS, Applicants must not include the following PII for the individuals who received
the financial products or services in AMIS or in the supporting documentation: name of
the individual, Social Security Number, driver’s license or state identification number,
passport number, and Alien Registration Number. This information should be redacted
from all supporting documentation. If the CDFI Fund discovers PII during the review of
an Application, the transaction will be deleted from the application record and deemed
ineligible.
1. CDFI Related Activities: CDFI Related Activities include Equity Investments, Equity-
Like Loans, and CDFI Support Activities provided to eligible CDFI Partners.
2. Eligible CDFI Partner: CDFI Partner is defined as a certified CDFI that has been
provided assistance in the form of CDFI Related Activities by an unaffiliated Applicant
(12 CFR 1806.103). For the purposes of this NOFA, an eligible CDFI Partner must have
been certified as a CDFI as of the date that the BEA Applicant made its investment or
provided support, and be Integrally Involved in a Distressed Community (if the BEA
Applicant provided CDFI Support Activities to the CDFI Partner).
3. Integrally Involved: Integrally Involved is defined at 12 CFR 1806.103. For purposes
of this NOFA, in order for an Applicant to report CDFI Support Activities in its
Application, the CDFI Partner which received the support must be deemed to be
Integrally Involved by demonstrating it has: (i) provided at least 10 percent of the number
of its financial transactions or dollars transacted (e.g., loans or Equity Investments), or 10
percent of the number of its Development Service Activities (as defined in 12 CFR
1805.104) or value of the administrative cost of providing such services, in one or more
Distressed Communities identified by the CDFI Partner, in each of the three calendar
years preceding the date of this NOFA; (ii) transacted at least 25 percent of the number of
its financial transactions or dollars transacted (e.g., loans or equity investments) in one or
more Distressed Communities in at least one of the three calendar years preceding the
date of this NOFA, or 25 percent of the number of its Development Service Activities (as
defined in 12 CFR 1805.104) or value of the administrative cost of providing such
services, in one or more Distressed Communities identified by the CDFI Partner, in at
least one of the three calendar years preceding the date of this NOFA; (iii) demonstrated
that it has attained at least 10 percent of market share for a particular financial product in
one or more Distressed Communities (such as home mortgages originated in one or more
Distressed Communities) in at least one of the three calendar years preceding the date of
this NOFA; or (iv) at least 25 percent of the CDFI Partner’s physical locations (e.g.,
offices or branches) are located in one or more Distressed Communities where it
provided financial transactions or Development Service Activities during the one
calendar year preceding the date of the NOFA.
4. Limitations on eligible Qualified Activities provided to certain CDFI Partners: A
CDFI Applicant cannot receive credit for any financial assistance or Qualified Activities
provided to a CDFI Partner that is also an FDIC-insured depository institution or
depository institution holding company.
5. Certificates of Deposit: Section 1806.103 of the Interim Rule states that any certificate
of deposit (CD) placed by an Applicant or its Subsidiary in a CDFI Partner that is a bank,
thrift, or credit union must be: (i) uninsured and committed for at least three years; or (ii)
insured, committed for a term of at least three years, and provided at an interest rate that
is materially below market rates, in the determination of the CDFI Fund.
a. For purposes of this NOFA, “materially below market interest rate” is defined as an
annual percentage rate that does not exceed the yields on Treasury securities at constant
maturity as interpolated by Treasury from the daily yield curve and available on the
Treasury website at www.treas.gov/offices/domestic-finance/debt-management/interest-
rate/yield.shtml. For example, for a three-year CD, Applicants should use the three-year
rate U.S. Government securities, Treasury Yield Curve Rate posted for that business day.
The Treasury updates the website daily at approximately 5:30 p.m. ET. CDs placed prior
to that time may use the rate posted for the previous business day. The annual percentage
rate on a CD should be compounded daily, quarterly, semi-annually, or annually. If a
variable interest rate is used, the CD must also have an interest rate that is materially
below the market interest rate over the life of the CD, in the determination of the CDFI
Fund. If a variable rate is used, the Applicant must describe its methodology for
determining that the interest rate over the life of the CD is a materially below market
interest rate. The CDFI Fund reserves the right to follow up with an Applicant regarding
variable interest rate CD transactions.
b. For purposes of this NOFA, a deposit placed by an Applicant directly with a CDFI
Partner that participates in a deposit network or service may be treated as eligible under
this NOFA if it otherwise meets the criteria for deposits in 12 CFR.1806.103 and the
CDFI Partner retains the full amount of the initial deposit or an amount equivalent to the
full amount of the initial deposit through a deposit network exchange transaction.
6. Equity Investment: An Equity Investment means financial assistance provided by an
Applicant or its Subsidiary to a CDFI, which CDFI meets such criteria as set forth in this
NOFA, in the form of a grant, a stock purchase, a purchase of a partnership interest, a
purchase of a limited liability company membership interest, or any other investment
deemed to be an Equity Investment by the CDFI Fund.
7. Equity-Like Loan: An Equity-Like Loan is a loan provided by an Applicant or its
Subsidiary to a CDFI, and made on such terms that it has characteristics of an Equity
Investment, as such characteristics may be specified by the CDFI Fund (12 CFR
1806.103). For purposes of this NOFA, an Equity-Like Loan must meet the following
characteristics:
a. At the end of the initial term, the loan must have a definite rolling maturity date that is
automatically extended on an annual basis if the CDFI borrower continues to be
financially sound and carry out a community development mission;
b. Periodic payments of interest and/or principal may only be made out of the CDFI
borrower’s available cash flow after satisfying all other obligations;
c. Failure to pay principal or interest (except at maturity) will not automatically result in a
default of the loan agreement; and
d. The loan must be subordinated to all other debt except for other Equity-Like Loans.
Notwithstanding the foregoing, the CDFI Fund reserves the right to determine, in its sole
discretion and on a case-by-case basis, whether an instrument meets the above-stated
characteristics of an Equity-Like Loan.
8. CDFI Support Activity: A CDFI Support Activity is defined as assistance provided by
an Applicant or its Subsidiary to a CDFI that is Integrally Involved in a Distressed
Community, in the form of a loan, Technical Assistance, or deposits.
9. CDFI Program Matching Funds: Equity Investments, Equity-Like Loans, and CDFI
Support Activities (except Technical Assistance) provided by a BEA Applicant to a CDFI
and used by the CDFI for matching funds under the CDFI Program are eligible as a
Qualified Activity under the CDFI Related Activity category.
10. Commercial Loans and Investments: Commercial Loans and Investments is a sub-
category of Distressed Community Financing Activities and is defined as the following
lending activity types: Affordable Housing Development Loans and related Project
Investments; Commercial Real Estate Loans and related Project Investments; and Small
Business Loans and related Project Investments.
11. Consumer Loans: Consumer Loans is a sub-category of Distressed Community
Financing Activities and is defined as the following lending activity types: Affordable
Housing Loans; Education Loans; Home Improvement Loans; and Small Dollar
Consumer Loans.
12. Distressed Community Financing Activities and Service Activities: Distressed
Community Financing Activities comply with consumer protection laws and are defined
as (1) Consumer Loans; or (2) Commercial Loans and Investments. In addition to the
requirements set forth in the Interim Rule, this NOFA provides the following additional
requirements:
a. Affordable Housing Development Loans and Related Project Investments: For
purposes of this NOFA, eligible Affordable Housing Development Loans and related
Project Investments do not include housing for students, or school dormitories. In
addition, for such transactions, Applicants will be required to provide supporting
documentation that demonstrates that at least 60 percent of the units in the property
financed are or will be sold or rented to Eligible Residents who meet Low-and-Moderate-
income requirements, as noted in the Application instructions.
b. Commercial Real Estate Loans and related Project Investments: For purposes of this
NOFA, eligible Commercial Real Estate Loans (12 CFR 1806.103) and related Project
Investments are generally limited to transactions with a total principal value of $10
million or less. Notwithstanding the foregoing, the CDFI Fund, in its sole discretion, may
consider transactions with a total principal value of over $10 million, subject to review.
For such transactions, Applicants must provide a separate narrative, or other information,
to demonstrate that the proposed project offers, or significantly enhances the quality of, a
facility or service not currently provided to the Distressed Community.
c. Small Dollar Consumer Loan: For purposes of this NOFA, eligible Small Dollar
Consumer Loans are affordable loans that serve as available alternatives to the
marketplace for individuals who are Eligible Residents with a total principal value of no
less than $500 and no greater than $5,000 and have a term of ninety (90) days or more.
d. Distressed Community Financing Activities - Transactions Less Than $250,000: For
purposes of this NOFA, Applicants are expected to maintain records for any transaction
submitted as part of the FY 2021 BEA Program Application, including supporting
documentation for transactions in the Distressed Community Financing Activity category
of less than $250,000. The CDFI Fund reserves the right to request supporting
documentation from an Applicant during its Application Review process for a Distressed
Community Financing Activities transaction less than $250,000.
e. Low- and Moderate-Income residents: For the purposes of this NOFA, Low-Income
means borrower income that does not exceed 80 percent of the area median income, and
Moderate-Income means borrower income may be 81 percent to no more than 120
percent of the area median income, according to the U.S. Census Bureau data.
13. Reporting Certain Financial Services: The CDFI Fund will value the administrative
cost of providing certain Financial Services using the following per unit values:
a. $100.00 per account for Targeted Financial Services including safe transaction
accounts, youth transaction accounts, Electronic Transfer Accounts and Individual
Development Accounts;
b. $50.00 per account for checking and savings accounts that do not meet the definition
of Targeted Financial Services;
c. $5.00 per check cashing transaction;
d. $50,000 per new ATM installed at a location in a Distressed Community;
e. $500,000 per new retail bank branch office opened in a Distressed Community,
including school-based bank branches approved by the Applicant’s Federal bank
regulator;
f. In the case of Applicants engaging in Financial Services activities not described above,
the CDFI Fund will determine the unit value of such services;
g. When reporting the opening of a new retail bank branch office, the Applicant must
certify that such new branch is intended to remain in operation for at least the next five
years;
h. Financial Service Activities must be provided by the Applicant to Eligible Residents or
enterprises that are located in a Distressed Community. An Applicant may determine the
number of Eligible Residents who are Award Recipients of Financial Services by either:
(i) collecting the addresses of its Financial Services customers, or (ii) certifying that the
Applicant reasonably believes that such customers are Eligible Residents or enterprises
located in a Distressed Community and providing a brief analytical narrative with
information describing how the Applicant made this determination. Citations must be
provided for external sources. In addition, if external sources are referenced in the
narrative, the Applicant must explain how it reached the conclusion that the cited
references are directly related to the Eligible Residents or enterprises to whom it is
claiming to have provided the Financial Services; and
i. When reporting changes in the dollar amount of deposit accounts, only calculate the net
change in the total dollar amount of eligible Deposit Liabilities between the Baseline
Period and the Assessment Period. Do not report each individual deposit. If the net
change between the Baseline Period and Assessment Period is a negative dollar amount,
then a negative dollar amount may be recorded for Deposit Liabilities only. Instructions
for determining the net change is available in the FY 2021 BEA Program Application in
AMIS.
14. Priority Factors: Priority Factors are the numeric values assigned to individual types
of activity within: (i) the Distressed Community Financing Activities, and (ii) Services
Activities categories of Qualified Activities. For the purposes of this NOFA, Priority
Factors will be based on the Applicant’s asset size as of the end of the Assessment Period
(December 31, 2020) as reported by the Applicant in the Application. Asset size classes
(i.e., small institutions, intermediate-small institutions, and large institutions) will
correspond to the Community Reinvestment Act (CRA) asset size classes set by the three
Federal bank regulatory agencies and that were effective as of the end of the Assessment
Period. The Priority Factor works by multiplying the change in a Qualified Activity by
the assigned Priority Factor to achieve a "weighted value." This weighted value of the
change would be multiplied by the applicable Award percentage to yield the Award
amount for that particular activity. For purposes of this NOFA, the CDFI Fund is
establishing Priority Factors based on Applicant asset size to be applied to all activity
types within the Distressed Community Financing Activities and Service Activities
categories only, as follows:
Table 5. CRA Asset Size Classification Priority FactorSmall institutions (assets of less than $330 million as of 12/31/2020) 5.0
Intermediate - small institutions (assets of at least $330 million but less than $1.322 billion as of 12/31/2020)
3.0
Large institutions (assets of $1.322 billion or greater as of 12/31/2020) 1.0
15. Certain Limitations on Qualified Activities:
a. Low-Income Housing Tax Credits: Financial assistance provided by an Applicant for
which the Applicant receives benefits through Low-Income Housing Tax Credits,
authorized pursuant to Section 42 of the Internal Revenue Code, as amended (26 U.S.C.
42), shall not constitute an Equity Investment, Project Investment, or other Qualified
Activity, for the purposes of calculating or receiving a BEA Program Award.
b. New Markets Tax Credits: Financial assistance provided by an Applicant for which the
Applicant receives benefits as an investor in a Community Development Entity that has
received an allocation of New Markets Tax Credits, authorized pursuant to Section 45D
of the Internal Revenue Code, as amended (26 U.S.C. 45D), shall not constitute an Equity
Investment, Project Investment, or other Qualified Activity, for the purposes of
calculating or receiving a BEA Program Award. Leverage loans used in New Markets
Tax Credit structured transactions that meet the requirements outlined in this NOFA are
considered Distressed Community Financing Activities. The application materials will
provide further guidance on requirements for BEA transactions which were leverage
loans used in a New Markets Tax Credit structured transaction.
c. Loan Renewals and Refinances: Financial assistance provided by an Applicant shall
not constitute a Qualified Activity, as defined in this part, for the purposes of calculating
or receiving a BEA Program Award if such financial assistance consists of a loan to a
borrower that has matured and is then renewed by the Applicant, or consists of a loan to a
borrower that is retired or restructured using the proceeds of a new commitment by the
Applicant.
d. Certain Business Types: Financial assistance provided by an Applicant shall not
constitute a Qualified Activity, as defined in this part, for the purposes of financing the
following business types: adult entertainment providers, golf courses, race tracks,
gambling facilities, country clubs, facilities offering massage services, hot tub facilities,
suntan facilities, or stores where the principal business is the sale of alcoholic beverages
for consumption off premises.
e. Prior BEA Program Awards: Qualified Activities funded with prior funding round
BEA Program Award dollars or funded to satisfy requirements of the BEA Program
Award Agreement shall not constitute a Qualified Activity for the purposes of calculating
or receiving a BEA Program Award.
f. Prior CDFI Fund Awards: No Applicant may receive a BEA Program Award for the
same activities funded by another CDFI Fund program or Federal program.
16. Award Percentages, Award Amounts, Application Review Process, Selection Process,
Programmatic and Financial Risk, and Application Rejection: The Interim Rule and this
NOFA describe the process for selecting Applicants to receive a BEA Program Award
and determining Award amounts.
a. Award percentages: In the CDFI Related Activities subcategory of CDFI Equity, for
all Applicants, the estimated award amount will be equal to 18 percent of the increase in
Qualified Activities reported in this subcategory.
In the CDFI Related Activities subcategory of CDFI Support Activities, for a certified
CDFI Applicant, the estimated award amount will be equal to 18 percent of the increase
in Qualified Activities in this subcategory. If an Applicant is not a certified CDFI, the
estimated award amount will be equal to 6 percent of the increase in Qualified Activities
in this subcategory.
In Distressed Community Financing Activities’ subcategory of Consumer Lending, the
estimated award amount for certified CDFI Applicants will be 18 percent of the weighted
value of the increase in Qualified Activities in this subcategory. If an Applicant is not a
certified CDFI Applicant, the estimated award amount will be equal to 6 percent of the
weighted value of the increase in Qualified Activities in this subcategory.
In the Distressed Community Financing Activities subcategory of Commercial Lending
and Investments, for a certified CDFI Applicant, the estimated award amount will be
equal to 9 percent of the weighted value of the increase in Qualified Activities in this
subcategory. If an Applicant is not a certified CDFI, the estimated award amount will be
equal to 3 percent of the weighted value of the increase in Qualified Activity in this
subcategory.
In the Service Activities category, for a certified CDFI Applicant, the estimated award
amount will be equal to 9 percent of the weighted value of the increase in Qualified
Activity for the category. If an Applicant is not a certified CDFI, the estimated award
amount will be equal to 3 percent of the weighted value of the increase in Qualified
Activity for the category.
b. Award Amounts: An Applicant’s estimated award amount will be calculated according
to the procedure outlined in the Interim Rule (at 12 CFR 1806.403). As outlined in the
Interim Rule at 12 CFR 1806.404, the CDFI Fund will determine actual Award amounts
based on the availability of funds, increases in Qualified Activities from the Baseline
Period to the Assessment Period, and the priority ranking of each Applicant.
In calculating the increase in Qualified Activities, the CDFI Fund will determine the
eligibility of each transaction for which an Applicant has applied for a BEA Program
Award. In some cases, the actual award amount calculated by the CDFI Fund may not be
the same as the estimated award amount requested by the Applicant.
For purposes of calculating award payment amounts, the CDFI Fund will treat Qualified
Activities with a total principal amount less than or equal to $250,000 as fully disbursed.
For all other Qualified Activities, Award Recipients will have 12 months from the end of
the Assessment Period to make disbursements and 15 months from the end of the
Assessment Period to submit to the CDFI Fund subsequent payment requests for the
corresponding portion of their awards, after which the CDFI Fund will rescind and de-
obligate any outstanding award balance and said outstanding award balance will no
longer be available to the Award Recipient.
B. Review and Selection Process:
1. Application Review Process: All Applications will be initially evaluated by external
non-Federal reviewers. Reviewers are selected based on their experience in
understanding various financial transactions, reading and interpreting financial
documentation, strong written communication skills, and strong mathematical skills.
Reviewers must complete the CDFI Fund’s conflict of interest process and be approved
by the CDFI Fund.
2. Selection Process: If the amount of funds available during the funding round is
insufficient for all estimated Award amounts, Award Recipients will be selected based on
the process described in the Interim Rule at 12 CFR 1806.404. This process gives funding
priority to Applicants that undertake activities in the following order: (i) CDFI Related
Activities, (ii) Distressed Community Financing Activities, and (iii) Service Activities, as
described in the Interim Rule at 12 CFR 1806.404(c).
Within each category, CDFI Applicants will be ranked first according to the ratio of the
actual award amount calculated by the CDFI Fund for the category to the total assets of
the Applicant, followed by Applicants that are not CDFI Applicants according to the ratio
of the actual award amount calculated by the CDFI Fund for the category to the total
assets of the Applicant.
Selections within each priority category will be based on the Applicants' relative rankings
within each such category, subject to the availability of funds and any established
maximum dollar amount of total awards that may be awarded for the Distressed
Community Financing Activities category of Qualified Activities, as determined by the
CDFI Fund.
The CDFI Fund, in its sole discretion: (i) may adjust the estimated award amount that an
Applicant may receive; (ii) may establish a maximum amount that may be awarded to an
Applicant; and (iii) reserves the right to limit the amount of an award to any Applicant if
the CDFI Fund deems it appropriate.
The CDFI Fund reserves the right to contact the Applicant to confirm or clarify
information. If contacted, the Applicant must respond within the CDFI Fund’s time
parameters or the Application may be rejected.
The CDFI Fund reserves the right to change its eligibility and evaluation criteria and
procedures. If those changes materially affect the CDFI Fund’s award decisions, the
CDFI Fund will provide information regarding the changes through the CDFI Fund’s
website.
3. Programmatic and Financial Risk: The CDFI Fund will consider safety and soundness
information from the appropriate Federal bank regulatory agency as defined in Section 3
of the Federal Deposit Insurance Act (12 U.S.C. 1813(q)). If the appropriate Federal bank
regulatory agency identifies safety and soundness concerns, the CDFI Fund will assess
whether the concerns cause or will cause the Applicant to be incapable of completing the
activities for which funding has been requested. The CDFI Fund will not approve a BEA
Program Award under any circumstances for an Applicant if the appropriate Federal bank
regulatory agency indicates that the Applicant received a composite rating of “5” on its
most recent examination, performed in accordance with the Uniform Financial
Institutions Rating System.
Furthermore, the CDFI Fund will not approve a BEA Program Award for an Applicant
that has:
(i) a CRA assessment rating of below “Satisfactory” on its most recent examination; (ii) a
financial audit with: a going concern paragraph, an adverse opinion, a disclaimer of
opinion, or a withdrawal of an opinion on its most recent audit; or (iii) a Prompt
Corrective Action directive from its regulator imposing restrictions on its level of lending
activities, that was active at the time the Applicant submitted its Application to the CDFI
Fund or becomes active during the CDFI Fund’s evaluation of the Application for:
activities which funding has been requested, activities which meet the BEA Program
criteria of Qualified Activities, or other circumstances which may impact an Applicant’s
ability to successfully manage, re-invest, and/or report on a FY 2021 BEA Program
Award.
Applicants and/or their appropriate Federal bank regulator agency may be contacted by
the CDFI Fund to provide additional information related to Federal bank regulatory or
CRA information. The CDFI Fund will consider this information and may choose to not
approve a FY 2021 BEA Program Award for an Applicant if the information indicates
that the Applicant may be unable to responsibly manage, re-invest, and/or report on a FY
2021 BEA Program Award during the period of performance.
4. Persistent Poverty Counties: Should the CDFI Fund determine, upon analysis of the
initial pool of BEA Program Award Recipients, that it has not achieved the 10 percent
PPC requirement mandated by Congress, Award preference will be given to Applicants
that committed to deploying a minimum of 10 percent of their FY 2021 BEA Program
Award in PPCs. Applicants may be required to deploy more than the minimum
commitment percentage, but the percentage required should not exceed the maximum
commitment percentage provided in the Application. Applicants that committed to
serving PPCs and are selected to receive a FY 2021 BEA Program award, will have their
PPC commitment incorporated into their Award Agreement as a Performance Goal which
will be subject to compliance and reporting requirements. No Applicant, however, will be
disqualified from consideration for not making a PPC commitment in its BEA Program
Application.
5. Application Rejection: The CDFI Fund reserves the right to reject an Application if
information (including administrative error) comes to the CDFI Fund’s attention that
either: adversely affects an Applicant’s eligibility for an award; adversely affects the
CDFI Fund’s evaluation or scoring of an Application; or indicates fraud or
mismanagement on the Applicant’s part. If the CDFI Fund determines any portion of the
Application is incorrect in a material respect, the CDFI Fund reserves the right, in its sole
discretion, to reject the Application.
There is no right to appeal the CDFI Fund’s award decisions. The CDFI Fund’s award
decisions are final. The CDFI Fund will not discuss the specifics of an Applicant’s FY
2021 BEA Program Application or provide reasons why an Applicant was not selected to
receive a FY 2021 BEA Program Award. The CDFI Fund will only respond to general
questions regarding the FY 2021 BEA Program Application and award decision process
until 30 days after the award announcement date.
C. Anticipated Announcement and Federal Award Dates: The CDFI Fund anticipates
making its FY 2021 BEA Program award announcement in the summer of 2021. The
Federal Award Date shall be the date that the CDFI Fund executes the Award Agreement.
VI. FEDERAL AWARD ADMINISTRATION INFORMATION
A. Federal Award Notices: The CDFI Fund will notify an Applicant of its selection as an
Award Recipient by delivering a notification or letter. The Award Agreement will
contain the general terms and conditions governing the CDFI Fund’s provision of an
Award. The Award Recipient will receive a copy of the Award Agreement via AMIS.
The Award Recipient is required to sign the Award Agreement via an electronic signature
in AMIS. The CDFI Fund will subsequently execute the Award Agreement. Each Award
Recipient must also ensure that complete and accurate banking information is reflected in
its SAM account at www.sam.gov in order to receive its award payment.
B. Administrative and National Policy Requirements: If, prior to entering into an Award
Agreement, information (including an administrative error) comes to the CDFI Fund’s
attention that adversely affects: the Award Recipient’s eligibility for an award; the CDFI
Fund’s evaluation of the Application; the Award Recipient’s compliance with any
requirement listed in the Uniform Requirements; or indicates fraud or mismanagement on
the Award Recipient’s part, the CDFI Fund may, in its discretion and without advance
notice to the Award Recipient, terminate the award or take other actions as it deems
appropriate.
If the Award Recipient’s certification status as a CDFI changes, the CDFI Fund reserves
the right, in its sole discretion, to re-calculate the award, and modify the Award
Agreement based on the Award Recipient’s non-CDFI status.
By executing an Award Agreement, the Award Recipient agrees that, if the CDFI Fund
becomes aware of any information (including an administrative error) prior to the
effective date of the Award Agreement that either adversely affects the Award
Recipient’s eligibility for an award, or adversely affects the CDFI Fund’s evaluation of
the Award Recipient’s Application, or indicates fraud or mismanagement on the part of
the Award Recipient, the CDFI Fund may, in its discretion and without advance notice to
the Award Recipient, terminate the Award Agreement or take other actions as it deems
appropriate.
The CDFI Fund reserves the right, in its sole discretion, to rescind an award if the Award
Recipient fails to return the Award Agreement, signed by the authorized representative of
the Award Recipient, and/or provide the CDFI Fund with any other requested
documentation, within the CDFI Fund’s deadlines.
In addition, the CDFI Fund reserves the right, in its sole discretion, to terminate and
rescind the Award Agreement and the award made under this NOFA for any criteria
described in the following table:
Table 6. Criteria that may Result in Award Termination Prior to the Execution of an Award AgreementCriteria DescriptionFailure to maintain FDIC-insured status
If prior to entering into an Award Agreement under this NOFA, the Award Recipient does not maintain its FDIC-insured status, the CDFI Fund will terminate and rescind the Award Agreement and the award made under this NOFA.
Failure to meet reporting requirements
If an Applicant is a prior CDFI Fund Award Recipient or Allocatee under any CDFI Fund program and is not current on the reporting requirements set forth in the previously executed assistance, award, allocation, bond loan agreement(s), or agreement to guarantee, the CDFI Fund reserves the right, in its sole discretion, to delay entering into an Award Agreement and/or to delay making a disbursement of Award proceeds, until said prior Award Recipient or Allocatee is current on the reporting requirements in the previously executed assistance, award, allocation, bond loan agreement(s), or agreement to guarantee. Please note that automated systems employed by the CDFI Fund for receipt of reports submitted electronically typically acknowledge only a report’s receipt; such acknowledgment does not warrant that the report received was complete and therefore met reporting requirements. If said prior Award Recipient or Allocatee is unable to meet this requirement within the timeframe set by the CDFI Fund, the CDFI Fund reserves the right, in its sole discretion, to terminate and rescind the award made under this NOFA.
Pending resolution of noncompliance
If, at any time prior to entering into an Award Agreement under this NOFA, an Applicant (or Affiliate of an Applicant) that is a prior CDFI Fund Award Recipient or Allocatee under any CDFI Fund program: (i) has demonstrated it has been in noncompliance with a previous assistance, award, allocation agreement, bond loan agreement, or agreement to guarantee, but (ii) the CDFI Fund has yet to make a final
determination regarding whether or not the entity is in noncompliance with or in default of its previous assistance, award, allocation, bond loan agreement, or agreement to guarantee, the CDFI Fund reserves the right, in its sole discretion, to delay entering into an Award Agreement and/or to delay making a payment of award proceeds, pending full resolution, in the sole determination of the CDFI Fund, of the noncompliance.
If said prior Award Recipient or Allocatee is unable to meet this requirement, in the sole determination of the CDFI Fund, the CDFI Fund reserves the right, in its sole discretion, to terminate and rescind the award made under this NOFA.
Default or Noncompliance status
If prior to entering into an Award Agreement under this NOFA: (i) the CDFI Fund has made a final determination that an Applicant (or an Affiliate of an Applicant) that is a prior CDFI Fund Award Recipient or Allocatee under any CDFI Fund program whose award or allocation terminated in default or noncompliance of such prior agreement; (ii) the CDFI Fund has provided written notification of such determination to such organization; and (iii) the anticipated date for entering into the Award Agreement under this NOFA is within a period of time specified in such notification throughout which any new award, allocation, assistance, bond loan agreement(s), or agreement to guarantee is prohibited, the CDFI Fund reserves the right, in its sole discretion, to terminate and rescind the Award Agreement and the award made under this NOFA
Compliance with Federal civil rights requirements
If prior to entering into an Award Agreement under this NOFA, the Award Recipient receives a final determination, made within the last three years, in any proceeding instituted against the Award Recipient in, by, or before any court, governmental, or administrative body or agency, declaring that the Award Recipient has violated the following laws: Title VI of the Civil Rights Act of 1964, as amended (42 U.S.C.§2000d); Section 504 of the Rehabilitation Act of 1973 (29 U.S.C. §794); the Age Discrimination Act of 1975, (42 U.S.C. §6101-6107), and Executive Order 13166, Improving Access to Services for Persons with Limited English Proficiency, the
CDFI Fund will terminate and rescind the Award Agreement and the award made under this NOFA.
Do Not Pay The Do Not Pay Business Center was developed to support Federal agencies in their efforts to reduce the number of improper payments made through programs funded by the Federal government.
The CDFI Fund reserves the right, in its sole discretion, to rescind an award if the Award Recipient (or Affiliate of a Recipient) is identified as ineligible to be an Award Recipient per the Do Not Pay database.
Safety and Soundness If it is determined the Award Recipient is or will be incapable of meeting its award obligations, the CDFI Fund will deem the Award Recipient to be ineligible or require it to improve safety and soundness conditions prior to entering into an Award Agreement.
C. Award Agreement: After the CDFI Fund selects an Award Recipient, unless an
exception detailed in this NOFA applies, the CDFI Fund and the Award Recipient will
enter into an Award Agreement. The Award Agreement will set forth certain required terms
and conditions of the award, which will include, but not be limited to: (i) the amount of the
award; (ii) the approved uses of the award; (iii) the performance goals and measures; (iv)
the period of performance; and (v) the reporting requirements. The Award Agreement shall
provide that an Award Recipient shall: (i) carry out its Qualified Activities in accordance
with applicable law, the approved Application, and all other applicable requirements; (ii)
not receive any disbursement of award dollars until the CDFI Fund has determined that the
Award Recipient has fulfilled all applicable requirements; and (iii) use the BEA Program
Award amount for Qualified Activities. Award Recipients which committed to serving
PPCs will have their PPC commitment incorporated into their Award Agreement as a
performance goal which will be subject to compliance and reporting requirements.
D. Reporting: Through this NOFA, the CDFI Fund will require each Award Recipient to
account for and report to the CDFI Fund on the use of the award. This will require Award
Recipients to establish administrative controls, subject to applicable OMB Circulars. The
CDFI Fund will collect information from each such Award Recipient on its use of the
award at least once following the award and more often if deemed appropriate by the
CDFI Fund in its sole discretion. The CDFI Fund will provide guidance to Award
Recipients outlining the format and content of the information required to be provided to
describe how the funds were used.
The CDFI Fund may collect information from each Award Recipient including, but not
limited to, an Annual Report with the following components:
Table 7. Reporting RequirementsCriteria DescriptionUse of BEA Program Award Report – for all Award Recipients
Award Recipients must submit the Use of Award report to the CDFI Fund via AMIS.
Use of BEA Program Award Report - Funds Deployed in Persistent Poverty Counties – as applicable
The CDFI Fund will require each Award Recipient with Persistent Poverty County commitments to report data for Award funds deployed in persistent poverty counties and maintain proper supporting documentation and records which are subject to review by the CDFI Fund.
Explanation of Noncompliance or successor report – as applicable
If the Award Recipient fails to meet a Performance Goal or reporting requirement, it must submit the Explanation of Noncompliance via AMIS.
Each Award Recipient is responsible for the timely and complete submission of the
reporting requirements. The CDFI Fund reserves the right to contact the Award Recipient
to request additional information and documentation. The CDFI Fund may consider
financial information filed with Federal regulators during its compliance review. The
CDFI Fund will use such information to monitor each Award Recipient’s compliance
with the requirements in the Award Agreement and to assess the impact of the BEA
Program. The CDFI Fund reserves the right, in its sole discretion, to modify these
reporting requirements if it determines it to be appropriate and necessary; however, such
reporting requirements will be modified only after notice has been provided to Award
Recipients.
E. Financial Management and Accounting: The CDFI Fund will require Award
Recipients to maintain financial management and accounting systems that comply with
Federal statutes, regulations, and the terms and conditions of the award. These systems
must be sufficient to permit the preparation of reports required by general and program
specific terms and conditions, including the tracing of funds to a level of expenditures
adequate to establish that such funds have been used according to the Federal statutes,
regulations, and the terms and conditions of the award.
Each of the Qualified Activities categories will be ineligible for indirect costs and an
associated indirect cost rate. The cost principles used by Award Recipients must be
consistent with Federal cost principles and support the accumulation of costs as required
by the principles, and must provide for adequate documentation to support costs charged
to the BEA Program Award. In addition, the CDFI Fund will require Award Recipients
to: maintain effective internal controls; comply with applicable statutes, regulations, and
the Award Agreement; evaluate and monitor compliance; take action when not in
compliance; and safeguard personally identifiable information, as described in Section
V.A. of this NOFA.
VII. FEDERAL AWARDING AGENCY CONTACTS
A. Questions Related to Application and Prior Award Recipient Reporting, Compliance
and Disbursements: The CDFI Fund will respond to questions concerning this NOFA,
the Application and reporting, compliance, or disbursements between the hours of 9:00
a.m. and 5:00 p.m. Eastern Time, starting on the date that this NOFA is published
through the date listed in Table 1. The CDFI Fund will post responses to frequently asked
questions in a separate document on its website. Other information regarding the CDFI
Fund and its programs may be obtained from the CDFI Fund’s website at
https://www.cdfifund.gov.
The following table lists contact information for the CDFI Fund, Grants.gov and SAM:
Table 8. Contact InformationType of Question Telephone number (not toll
free)Electronic contact method
BEA Program 202-653-0421 BEA AMIS Service Request
Certification, Compliance Monitoring, and Evaluation
202-653-0423 BEA Compliance and Reporting AMIS Service Request
AMIS – IT Help Desk 202-653-0422 IT AMIS Service Request
Grants.gov Help Desk 800-518-4726 [email protected] (Federal Service Desk)
866-606-8220 Web form via https://www.fsd.gov/fsd-gov/login.do
B. Information Technology Support: People who have visual or mobility impairments that
prevent them from using the CDFI Fund’s website should call (202) 653-0422 for
assistance (this is not a toll free number).
C. Communication with the CDFI Fund: The CDFI Fund will use its AMIS Internet
interface to communicate with Applicants and Award Recipients under this NOFA.
Award Recipients must use AMIS to submit required reports. The CDFI Fund will notify
Award Recipients by email using the addresses maintained in each Award Recipient’s
AMIS account. Therefore, an Award Recipient and any Subsidiaries, signatories, and
Affiliates must maintain accurate contact information (including contact person and
authorized representative, email addresses, fax numbers, phone numbers, and office
addresses) in their AMIS account(s).
D. Civil Rights and Diversity: Any person who is eligible to receive benefits or services
from CDFI Fund or Award Recipients under any of its programs is entitled to those
benefits or services without being subject to prohibited discrimination. The Department
of the Treasury’s Office of Civil Rights and Diversity enforces various Federal statutes
and regulations that prohibit discrimination in financially assisted and conducted
programs and activities of the CDFI Fund. If a person believes that s/he has been
subjected to discrimination and/or reprisal because of membership in a protected group,
s/he may file a complaint with: Office of Civil Rights and Diversity, 1500 Pennsylvania
Ave, NW, Washington, DC 20220 or (202) 622-1160 (not a toll-free number).
E. Statutory and National Policy Requirements: The CDFI Fund will manage and
administer the Federal award in a manner so as to ensure that Federal funding is
expended and associated programs are implemented in full accordance with the U.S.
Constitution, Federal Law, statutory, and public policy requirements: including, but not
limited to, those protecting free speech, religious liberty, public welfare, the environment,
and prohibiting discrimination.
VIII. OTHER INFORMATION
A. Reasonable Accommodations: Requests for reasonable accommodations under section
504 of the Rehabilitation Act should be directed to Mr. Jay Santiago, Community
Development Financial Institutions Fund, U.S. Department of the Treasury, at
[email protected] no later than 72 hours in advance of the application deadline.
B. Paperwork Reduction Act: Under the Paperwork Reduction Act (44 U.S.C. chapter
35), an agency may not conduct or sponsor a collection of information, and an individual
is not required to respond to a collection of information, unless it displays a valid OMB
control number. Pursuant to the Paperwork Reduction Act, the BEA Program funding
Application has been assigned the following control number: 1559-0005.
C. Application Information Sessions: The CDFI Fund may conduct webinars or host
information sessions for organizations that are considering applying to, or are interested
in learning about, the CDFI Fund’s programs. For further information, please visit the
CDFI Fund’s website at https://www.cdfifund.gov.
Authority: 12 U.S.C. 1834a, 4703, 4703 note, 4713; 12 CFR part 1806.
Jodie L. Harris
Director, Community Development Financial Institutions Fund